Latest news with #Mana
Bangkok Post
13-07-2025
- Business
- Bangkok Post
Crypto seen benefiting from tax exemption
Thailand's recent move to exempt capital gains tax on cryptocurrency for a five-year period could draw a massive pool of Thai capital estimated at more than US$60 billion currently held offshore back to the country, says Merkle Capital. According to Merkle, Thailand's first digital asset fund manager, much of this capital is spent on digital assets via unregulated international platforms. The capital gains tax exemption is poised to reshape the investment landscape, said Mana Khanijou, chief commercial officer of Merkle Capital. The decision marks a significant step towards strengthening the country's position as a regional digital asset hub, he said. Effective as of Jan 1, 2025 through Dec 31, 2029, this policy applies to transactions conducted through licensed exchanges, brokers and dealers within Thailand. "This bold fiscal incentive not only encourages greater transparency in digital asset trading, especially during peak market conditions, but also lays the groundwork to repatriate a portion of the vast offshore funds held by Thai investors," said Mr Mana. Historically, the lack of a domestic tax advantage and limited regulatory clarity have driven investors toward unlicensed international platforms, placing their capital outside of Thailand's financial oversight, he noted. But with liquidity tightening at home and the government eager to boost capital inflows, the tax exemption serves as a timely magnet for wealth to return to the domestic economy. "If successful, it could directly support broader economic goals, particularly as the digital economy is expected to account for over one-third of Thai GDP by 2030." However, to fully realise its digital potential, Mr Mana said Thailand must push forward on multiple fronts by advancing smart infrastructure, embracing lifestyle digitalisation, modernising regulatory frameworks, and continuing to offer attractive fiscal policies such as crypto tax relief. "Competition is heating up, with neighbouring countries pursuing similar strategies. For Thailand to lead, momentum must be sustained, and innovation must remain central to national policy. With the right commitment, Thailand could emerge not only as a regulatory leader but as Southeast Asia's premier digital trading hub," he said. In a related development, InnovestX Securities forecasts that Bitcoin and Ethereum prices will remain highly volatile throughout this month, driven primarily by macroeconomic and geopolitical developments. A key date to watch is Aug 1 -- the US tariff deadline. "If the outcome signals a more dovish or market-friendly approach, it could provide a lift to crypto prices," said the brokerage. Investors should also monitor the US consumer price index (CPI), a crucial data point used by the Federal Reserve in its monetary policy decisions. If the CPI reading comes in lower than market expectations, it could create positive sentiment for cryptocurrencies, as it may increase the likelihood of a rate cut later this year. For the Fed's meeting at the end of July, InnovestX maintains that the regulator is likely to keep interest rates unchanged. "If this holds true, the impact on crypto prices is expected to be relatively limited," noted the brokerage. "One of the biggest uncertainties remains the escalating conflict between Israel and Iran. Should tensions worsen, there is a chance that investors may reduce their exposure to cryptocurrencies in a risk-off move, despite recent signs of improving sentiment on the geopolitical front. The progress of trade negotiations also remains an important factor to monitor."
The Herald
10-06-2025
- Business
- The Herald
USAID cuts threaten ‘God's food' made in Georgia for children in need
He has vowed to keep his factory going and his 130 workers employed, even as the Trump administration has slashed 90% of USAID contracts and $60bn in US assistance across the board. One possibility is finding another international aid organisation to support the manufacture and distribution of Mana's peanut paste packets, each about the size of a cellphone. Most of the product, which also includes powdered milk, sugar and vitamins, goes to Africa, where Moore served as a missionary in Uganda for 10 years. 'It saves children who are at the brink of no return,' said Mark Manary, an expert in childhood nutrition at Washington University's Institute for Public Health who helped develop the paste's formula. 'It's hard to wrap your mind around the need.' Manary said the food created in Georgia and at a similar operation in Rhode Island, Edesia Nutrition, is an important link in the global effort to stave off starvation of children in countries where the main killer is malnutrition. Moore hopes legislators and the Trump administration will see the value in the work and put the money back into the new federal budget. 'I believe the US government will remain involved in global food aid,' he said, adding he has spoken to Republicans and Democrats who want the work to continue. Moore is also seeking contracts with other organisations that specialise in humanitarian aid for children in crisis, including Save the Children, International Rescue Committee and Unicef. The organisations did not immediately respond to a request for comment. One bright spot in recent years was an infusion of cash from Chris Hohn, a hedge-fund billionaire based in London and a philanthropist with the Children's Investment Fund Foundation. Hohn's charity did not immediately respond to a request for comment. In recent years, Hohn has given more than $250m to Mana Nutrition, according to Moore, much of it spent on expanding the plant, more than doubling its space and adding new machinery. However, Mana needs new contracts to go forward, or another donation from philanthropists. 'We've been put on Earth for a purpose,' Moore said. 'Jesus told his disciples to go and feed the people. So we've been hustling nonstop.' Reuters
TimesLIVE
10-06-2025
- Business
- TimesLIVE
USAID cuts threaten ‘God's food' made in Georgia for children in need
Reaching into one of the giant white sacks piled up in his Georgia food-processing plant, Mark Moore pulls out a fistful of shelled peanuts, what he calls 'God's food', and lets them roll through his fingers. A former evangelical missionary, Moore is co-founder of Mana Nutrition, a US nonprofit that said it has fed 10-million children across the globe since 2010 with packets of peanut butter paste made in the small farming community of Fitzgerald, about 290km south of Atlanta. 'This saves children,' said Moore, 58, clutching a bunch of the protein-rich legumes. 'It's not an overstatement: We defeat death.' Mana is in the midst of its own struggle for survival. Deep cuts in federal programmes targeting international aid programmes under President Donald Trump have threatened to choke the financial lifeline that has allowed the nonprofit to carry out its life-saving mission. Since January, the US Agency for International Development (USAID), created during the height of the Cold War by then-President John F Kennedy, has been dismantled by the department of government efficiency, Trump's cost-cutting entity led until recently by billionaire Elon Musk. In announcing the termination of its contracts, which accounted for about 90% of Mana's $100m (R1.7bn) annual budget, the department of government efficiency sent a letter to the nonprofit saying its work was 'not aligned with agency priorities'. Efforts to reach a spokesperson for the state department, which oversees USAID, have been unsuccessful. In two terse letters sent to Mana and reviewed by Reuters, USAID offered no specific reasons for the terminations other than to say the work 'was not in the national interest'. Mana has enough money to keep running through to August at the most, Moore said, but he seemed unshakeable in his optimism about the future of its mission.
Yahoo
26-05-2025
- Health
- Yahoo
Big-hearted Westchester teen finishes veteran hall beautification project in time for Memorial Day — after freak accident
A big-hearted Westchester teenager has finished a project to beautify a local veterans hall in time for Memorial Day — after a freak accident and grueling recovery prevented him from completing it for months. Joseph Mana, 18, was nearly done fixing up the Veterans of Foreign Wars hall in Yorktown Heights, installing planter boxes, pressure washing the building and refinishing a bench, for an Eagle Scout project in October when he took a break to return to school, he and his father told The Post. 'It was supposed to be done in time for Veterans Day — but then tragedy struck,' his dad, Ed Mana, said. The teen, who was active in Boy Scouts troop 173, was playing touch football in fourth period gym class when another student accidentally slammed into his left leg from the side as he leaned back on it, Mana said. The impact and strange angle dislocated his knee and damaged a main artery behind it. 'I was in a lot of pain and shock,' Mana said. 'The top of my knee was indented down at an angle.' He was rushed to an emergency room, where doctors explained he needed surgery immediately to fix the artery. 'After they popped it back into place, they said it could be something wrong with the vascular side,' Mana said. For the next four months, the teen was forced to remain hospitalized while he recovered from three surgeries — including to repair the artery, remove pins from his ACL and fix a tendon. Ed Mana, 52, said it was hard to check his son into Blythedale Children's hospital in Valhalla knowing he'd likely be there for months. 'When you have to leave [your kid] there, it's like you're leaving someone in jail. There were tears,' he said. As the months passed, the teenager celebrated Halloween, New Years 'Day and his 18th birthday at the hospital. 'I was upset and annoyed I couldn't see [my friends],' Joseph Mana said. He even applied to colleges while on painkillers and confined to the medical center. 'I told him if you don't get in, you should write the college a letter later and say, 'I was high but not for the normal reasons,'' Ed Mana said. Finally, in March the teen was released and advised to do physical therapy twice a week and to wear a knee brace for the next year and a half. Over the weekend, he returned to complete the vets project, which will also include a flag box, and will be unveiled in a ceremony after the town's Memorial Day parade Monday. Mana is expected to give a short speech. 'Vets deserve this because they fought for our country, so we should spend our time helping them too,' he said. Since his accident, Mana has been accepted to SUNY Polytechnic Institute, where he plans to study computer science.
New York Post
25-05-2025
- Health
- New York Post
Big-hearted Westchester teen finishes veteran hall beautification project in time for Memorial Day — after freak accident
A big-hearted Westchester teenager has finished a project to beautify a local veterans hall in time for Memorial Day — after a freak accident and grueling recovery prevented him from completing it for months. Joseph Mana, 18, was nearly done fixing up the Veterans of Foreign Wars hall in Yorktown Heights, installing planter boxes, pressure washing the building and refinishing a bench, for an Eagle Scout project in October when he took a break to return to school, he and his father told The Post. 'It was supposed to be done in time for Veterans Day — but then tragedy struck,' his dad, Ed Mana, said. Advertisement 12 Yorktown Heights teen Joseph Mana made improvements to a local Veterans of Foreign Wars hall for his Eagle Scout project. Douglas Healey for NY Post 12 Mana working on the project with fellow scout Louis Tuccitto. Edward Mana 12 Mana told ThePost he selected the VFW project to give back to the veterans who fought for our country. Edward Mana 12 The VFW hall before the beautification project began. GoFundMe Advertisement The teen, who was active in Boy Scouts troop 173, was playing touch football in fourth period gym class when another student accidentally slammed into his left leg from the side as he leaned back on it, Mana said. The impact and strange angle dislocated his knee and damaged a main artery behind it. 'I was in a lot of pain and shock,' Mana said. 'The top of my knee was indented down at an angle.' 12 Mana suffered a nasty knee injury in gym class in October — delaying his Eagle Scout project. Edward Mana 12 The accident dislocated Mana's knee and injured an artery behind it. Edward Mana Advertisement He was rushed to an emergency room, where doctors explained he needed surgery immediately to fix the artery. 'After they popped it back into place, they said it could be something wrong with the vascular side,' Mana said. For the next four months, the teen was forced to remain hospitalized while he recovered from three surgeries — including to repair the artery, remove pins from his ACL and fix a tendon. 12 Mana had to spend four months in the hospital after the accident. Edward Mana 12 The high schooler was eventually released from the hospital in Mach. Edward Mana Advertisement 12 Mana is set to study computer science at SUNY Polytechnic Institute in the fall. Edward Mana Ed Mana, 52, said it was hard to check his son into Blythedale Children's hospital in Valhalla knowing he'd likely be there for months. 'When you have to leave [your kid] there, it's like you're leaving someone in jail. There were tears,' he said. As the months passed, the teenager celebrated Halloween, New Years 'Day and his 18th birthday at the hospital. 'I was upset and annoyed I couldn't see [my friends],' Joseph Mana said. 12 Mana working with his father Ed on the VFW project while wearing a knee brace. Douglas Healey for NY Post 12 The repairs at the VFW hall will be finished just in time for Memorial Day. Douglas Healey for NY Post He even applied to colleges while on painkillers and confined to the medical center. Advertisement 'I told him if you don't get in, you should write the college a letter later and say, 'I was high but not for the normal reasons,'' Ed Mana said. Finally, in March the teen was released and advised to do physical therapy twice a week and to wear a knee brace for the next year and a half. 12 Mana willl unveil the newly renovated VFW hall after Yorktown Heights' Memorial Day parade. Douglas Healey for NY Post Over the weekend, he returned to complete the vets project, which will also include a flag box, and will be unveiled in a ceremony after the town's Memorial Day parade Monday. Mana is expected to give a short speech. Advertisement 'Vets deserve this because they fought for our country, so we should spend our time helping them too,' he said. Since his accident, Mana has been accepted to SUNY Polytechnic Institute, where he plans to study computer science.
